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Bank Indonesia Maintains Reference Rate at 4.5 Percent

TEMPO.CO,¬ Jakarta¬ –¬ Bank Indonesia¬ (BI) has decided to maintain the reference rate at 4.5 percent. BI‚Äôs deposit facility interest rate is also maintained at 3.5 percent, and the lending facility interest rate stays at 5.0 percent. ‚ÄúThe BI Rates will apply on October 20, 2017,‚ÄĚ Bank Indonesia‚Äôs economic and monetary policies department head Dody Budi Waluyo said in […]

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Bank Indonesia Projects Higher Growth in Q3

TEMPO.CO,¬ Jakarta¬ –¬ Bank Indonesia (BI)¬ expects Indonesia`s economic growth in the third quarter to improve from the previous quarter. The overall economic growth for this year is estimated to be higher than the initial projection of 5.0 to 5.4 percent and will increase to 5.1 to 5.5 percent by 2018. Bank Indonesia’s head of economic and monetary policy […]

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Indonesia: Govt Increases Cigarette Excise Tariff by 10.04 Percent‚Ä®

TEMPO.CO,¬ Jakarta¬ –¬ The government has decided to increase the¬ cigarette¬ excise tariff by 10.04 percent, which will be enforced on January 1, 2018, Finance Minister Sri Mulyani Indrawati said Thursday, October 19. According to Sri Mulyani, the government had taken several factors into considerations before deciding to increase the excise tariff hike. One of them is an aspiration from […]

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Cambodia’s central bank releases 40 billion riel

The National Bank of Cambodia yesterday held its 13th liquidity-providing collateralised operation, making 40 billion riel ($9.89 million) available to financial institutions in an auction in which repurchase agreements, or repos, were signed for 2 billion riel ($500,000). Only one financial institution made a successful bid during the auction, receiving funds at an interest rate […]

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Indonesia: Retail Industry Growth Stands at 3.7 Percent: Aprindo

TEMPO.CO,¬ Jakarta¬ – Indonesia‚Äôs¬ retail¬ industry growth stood at 3.7 percent as of the end of the first half of 2017, said the Indonesia Retail Business Association (Aprindo) chairman Roy Nicholas Mandey. He predicts that the full-year figure will hit 7.5 to 8 percent. ‚ÄúIt‚Äôs lower than the first half of 2016 that grew 9 percent,‚ÄĚ Mandey told Tempo […]

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Indonesia encourages Asean currencies in trade

JAKARTA: Indonesia’s central bank said on Monday it will allow transaction settlement for bilateral trade between Indonesia, Malaysia and Thailand to be conducted in local currencies. The new regulation is aimed at reducing dependency on the US dollar and limiting exposure to volatile foreign exchange rates. The rule, which goes into effect on Jan 2 […]

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